MGT Insurance expands with new surplus lines company

MGT Insurance, an AI-powered commercial neo-insurer, has announced the launch of MGT Specialty, a surplus lines (E&S) company designed to broaden the insurer’s market presence and offer increased flexibility to the 35 million small businesses across the US.

MGT Specialty aims to serve new and underserved markets by offering tailored solutions for unique and hard-to-place risks, expanding access to innovative insurance options.

The company’s entry into the E&S market reflects a strategic effort to provide brokers and small business owners with specialised products that meet their evolving needs.

The surplus lines market, valued at over $95 billion in premiums in 2024 with an 11% year-over-year growth, focuses on harder-to-place risks. By leveraging cutting-edge technology and data-driven insights, MGT is poised to deliver enhanced support and customisation to its brokers and clients in this expanding segment.

In conjunction with the launch of MGT Specialty, MGT Insurance has appointed industry veteran Chad Nitschke as General Manager. With a career spanning prominent roles in insurance and insurtech, Nitschke brings extensive expertise and leadership to the new venture, positioning it for sustained growth and innovation.

Before joining MGT Specialty, Nitschke served as SVP of Digital Strategy & Execution at Hiscox, where he managed the company’s digital partner business.

He also played key roles as the leader of Vouch Specialty and as the founder and CEO of Bunker, an insurtech focused on delivering solutions for small businesses. Earlier in his career, he held underwriting and strategic positions at Travelers, Axis, and CUNA Mutual, cultivating a deep understanding of both traditional and technology-driven insurance markets.

With Nitschke at the helm, MGT Specialty is set to deliver forward-thinking solutions and expand its footprint in the E&S market, further solidifying MGT Insurance’s role as a leader in small business insurance innovation.

“The launch of MGT Specialty is a pivotal moment in our journey to insure small businesses,” added Graham Topol, Co-CEO and Co-Founder of MGT Insurance.

“We have been working on this for some time and are pleased to finally bring it to light. Chad’s unparalleled expertise and vision make him the ideal leader to drive this effort. Together, we’re creating new opportunities to serve entrepreneurs and business owners across America.”

Nitschke commented: “I’m thrilled to join MGT and lead the launch of MGT Specialty. The E&S market represents a tremendous opportunity to deliver flexible, data-driven solutions that capture significant market opportunities. I look forward to working with our broker partners to advance MGT’s mission of serving the small businesses that power our economy.”

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